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2012 California Tax Rates and Exemptions

The rate of inflation in California, for the period from July 1, 2011, through June 30, 2012, was 1.9%. The 2012 personal income tax brackets are indexed by this amount.

Corporate tax rates

Entity type Tax rate
Corporations other than banks and financials 8.84%
Banks and financials 10.84%
Alternative Minimum Tax (AMT) rate 6.65%
S corporation rate 1.5%
S corporation bank and financial rate 3.5%

Individual tax rates

  • The maximum rate for individuals is 12.3%
  • The AMT rate for individuals is 7%
  • The Mental Health Services Tax Rate is 1% for taxable income in excess of $1,000,000.

Exemption credits

Filing Status/Qualification Exemption amount
Married/Registered Domestic Partner (RDP) filing jointly or qualifying widow(er) $208
Single, married/RDP filing separately, or head of household $104
Dependent $321
Blind $104
Age 65 or older $104

Phaseout of exemption credits

Higher-income taxpayers' exemption credits are reduced as follows:

Filing status Reduce each credit by: For each: Federal AGI exceeds:
Single $6 $2,500 $169,730
Married/RDP filing separately $6 $1,250 $169,730
Head of household $6 $2,500 $254,599
Married/RDP filing jointly $12 $2,500 $339,464
Qualifying widow(er) $12 $2,500 $339,464

When applying the phaseout amount, apply the $6/$12 amount to each exemption credit, but do not reduce the credit below zero. If a personal exemption credit is less than the phaseout amount, do not apply the excess against a dependent exemption credit.

Standard deductions

The standard deduction amounts for:

Filing status Deduction amount
Single or married/RDP filing separately $3,841
Married/RDP filing jointly, head of household, or qualifying widow(er) $7,682
The minimum standard deduction for dependents $950

Reduction in itemized deductions

Itemized deductions must be reduced by the lesser of 6% of the excess of the taxpayer's federal AGI over the threshold amount or 80% of the amount of itemized deductions otherwise allowed for the taxable year.

Filing status AGI threshold
Single or married/RDP filing separately $169,730
Head of household $254,599
Married/RDP filing jointly or qualifying widow(er) $339,464

Nonrefundable Renter's credit

This nonrefundable, non-carryover credit for renters is available for:

  • Single or married/RDP filing separately with a California AGI of $36,337 or less.
    • The credit is $60.
  • Married/RDP filing jointly, head of household, or qualifying widow(er) with a California AGI of $72,674 or less.
    • The credit is $120.

Miscellaneous credits

  • Qualified senior head of household credit
    • 2% of California taxable income
    • Maximum California AGI of $66,391
    • Maximum credit of $1,251
  • Joint custody head of household credit/dependent parent credit
    • 30% of net tax
    • Maximum credit of $409

AMT exemption

Filing status Amount
Married/RDP filing jointly or qualifying widow(er) $83,225
Single or head of household $62,420
Married/RDP filing separately, estates, or trusts $41,612

AMT exemption phaseout

Filing status Amount
Married/RDP filing jointly or qualifying widow(er) $312,095
Single or head of household $234,072
Married/RDP filing separately, estates, or trusts $156,047

FTB cost recovery fees

Fee type Fee
Bank and corporation filing enforcement fee $89
Bank and corporation collection fee $269
Personal income tax filing enforcement fee $82
Personal income tax collection fee $159

The personal income tax fees apply to individuals and partnerships, as well as limited liability companies that are classified as partnerships. The bank and corporation fees apply to banks and corporations, as well as limited liability companies that are classified as corporations. Interest does not accrue on these cost recovery fees.

2012 California Tax Rate Schedules

Schedule X — Single or married/RDP filing separately

If the taxable income is
Over But not over Tax is Of amount over
$0 $7,455 $0.00 plus 1.00% $0
$7,455 $17,676 $74.55 plus 2.00% $7,455
$17,676 $27,897 $278.97 plus 4.00% $17,676
$27,897 $38,726 $687.81 plus 6.00% $27,897
$38,726 $48,942 $1,337.55 plus 8.00% $38,726
$48,942 $250,000 $2,154.83 plus 9.30% $48,942
$250,000 $300,000 $20,853.22 plus 10.30% $250,000
$300,000 $500,000 $26,003.22 plus 11.30% $300,000
$500,000 AND OVER $48,603.22 plus 12.30% $500,000

Schedule Y — Married/RDP filing jointly, or qualifying widow(er) with dependent child

If the taxable income is
Over But not over Tax is Of amount over
$0 $14,910 $0.00 plus 1.00% $0
$14,910 $35,352 $149.10 plus 2.00% $14,910
$35,352 $55,794 $557.94 plus 4.00% $35,352
$55,794 $77,452 $1,375.62 plus 6.00% $55,794
$77,452 $97,884 $2,675.10 plus 8.00% $77,452
$97,884 $500,000 $4,309.66 plus 9.30% $97,884
$500,000 $600,000 $41,706.45 plus 10.30% $500,000
$600,000 $1,000,000 $52,006.45 plus 11.30% $600,000
$1,000,000 AND OVER $97,206.45 plus 12.30% $1,000,000

Schedule Z — Head of household

If the taxable income is
Over But not over Tax is Of amount over
$0 $14,920 $0.00 plus 1.00% $0
$14,920 $35,351 $149.20 plus 2.00% $14,920
$35,351 $45,571 $557.82 plus 4.00% $35,351
$45,571 $56,400 $966.62 plus 6.00% $45,571
$56,400 $66,618 $1,616.36 plus 8.00% $56,400
$66,618 $340,000 $2,433.80 plus 9.30% $66,618
$340,000 $408,000 $27,858.33 plus 10.30% $340,000
$408,000 $680,000 $34,862.33 plus 11.30% $408,000
$680,000 AND OVER $65,598.33 plus 12.30% $680,000

Individual Filing Requirements

If your gross income or adjusted gross income is more than the amount shown in the chart below for your filing status, age, and number of dependents, then you have a filing requirement.

Filing Status Age as of December 31, 2012* California Gross Income California Adjusted Gross Income
Dependents Dependents
0 1 2 or more 0 1 2 or more
Single or head of household Under 65 $15,440 $26,140 $34,165 $12,352 $23,052 $31,077
65 or older $20,640 $28,665 $35,085 $17,552 $25,577 $31,997
Married/RDP filing jointly or separately Under 65 (both spouses/RDPs) $30,881 $41,581 $49,606 $24,705 $35,405 $43,430
65 or older (one spouse) $36,081 $44,106 $50,526 $29,905 $37,930 $44,350
65 or older
(both spouses/RDPs)
$41,281 $49,306 $55,726 $35,105 $43,130 $49,550
Qualifying widow(er) Under 65 N/A $26,140 $34,165 N/A $23,052 $31,077
65 or older N/A $28,665 $35,085 N/A $25,577 $31,997
Dependent of another person (Any filing status) Under 65 More than your standard deduction
65 or older More than your standard deduction

* If you turn 65 on January 1, 2013, you are considered to be age 65 at the end of 2012.